The textile industry, especially the power loom segment, has hardly been comforted by a ministry clarification that only job workers or units with an annual turnover of Rs 20 lakh or more would need to register for the good and services tax (GST). Since the new indirect tax regime was rolled out on July 1, the textile sector has been demanding that the rates and rules be eased for it. In its latest notification, the textile ministry has not only eased the norms for job workers but has also warned of action against master weavers who insist small job units must themselves register for the GST. The development comes after the ministry received various notices and representations from job workers. J L Balakumar, deputy director and officer in charge at the Ministry of Textiles, said GST registration was not required for small job workers and job working units since there was a threshold exemption limit of Rs 20 lakh under the GST. The sector, however, is not happy with the notification. According to power loom and job workers, when the industry was demanding an 18-month vacation from the GST, this relief would provide little succour. “There are a large number of small job workers with an annual turnover of less than Rs 20 lakh, whom the power loom industry, especially master weavers, has to engage. With the exemption from GST registration, master weavers would end up with the reserve charge mechanism,” said Ashish Gujarati, president of Pandesara Weavers’ Association, in Surat. In other words, master weavers would have to pay duty on behalf of job workers. Gujarati said decentralised units employ job workers’ services for weaving and embroidery work, which attracts GST at 18 per cent. The power loom sector was also padding up for a double whammy. Much of the yarn twisting and embroidery work was done by women from their homes, but labour, which along with power accounted for 80 per cent of input, is not under the input credit net in the GST regime. This would deprive the power loom owners from a government refund. “The government should have allowed time for the power loom sector to first come under the formal taxation net before levying any duty on it,” Gujarati said. Job workers, too, feel the future is bleak. Mehul Patel, who runs a unit with 100 looms in the Pandesara GIDC, said the textile ministry’s notification would result in dwindling orders. “This might further discourage master weavers from issuing orders,” he said. However, P Kumaraswamy, secretary, Coimbatore District Job Working Power Loom Unit Owners’ Association, said the notification was a great relief. He said there were about 600,000 power loom units in Tamil Nadu; 80 per cent of these have annual turnovers of about Rs 10-12 lakh. Kumaraswamy added that master weavers were not giving any new job work orders, as most of them were unable to dispose off their huge stock which did not have proper bills. “We hope that everything will come back to normal in the next two months. The GST will help to streamline the system in the long run,” he said.
Source: Business Standard
Surat: Textile goods transporters who deliver fabrics, saris and dress material from the city to traders in Uttar Pradesh and Bihar, have unanimously decided not to transport goods without form 402 and e-way bill of the sender and receiver from Wednesday. A decision to this effect was taken by Surat Textile Goods Transporters' Association (STGTA) at a meeting held here on Tuesday. STGTA office-bearers stated that Uttar Pradesh and Bihar governments have issued a circular stating that the goods coming from other states without form 402 and e-way bill will not be allowed to enter and that the transporters will have to pay penalty and face jail term under Goods and Services Tax laws. STGTA president Yuvraj Deshle said, "There are many traders who are not conforming to GST laws. Ultimately, the transporters will be held responsible and end up paying penalty and facing jail term. Uttar Pradesh and Bihar governments will become strict from Wednesday. Thus, the transporters have decided not to transport the goods without e-way bill and form 402." Around 700 trucks are loaded with goods on a daily basis and head to various destinations from here across the country. The daily supply of polyester fabrics, saris and dress material from the city is pegged at Rs 125 crore.
Source: The Times of India
Farmers, who have distanced themselves from cultivating the cotton crop during the last khariff season following the government discouraging them, have decided to go in only for cotton crop as there was good remunerative price for the crop in the last season. Besides, the prevailing dry weather conditions were forcing the farmers to take up irrigated dry (ID) crop of cotton in this kharif season in the district. It is almost two months since the start of the monsoon season, but the district has not received any good rainfall so far.
No inflows
Also, there were no inflows into the major irrigation projects. During the last season, minimum support price fixed by the Cotton Corporation of India (CCI) was Rs. 4,160 per quintal. But, owing to decline in area of cultivation and low production, the priced crossed Rs. 5,200 per quintal in all the marketyards. The high price was tempting farmers to go in for its cultivation, say agriculture officials. In Karimnagar district, against the normal area of cultivation on 1,10,529 hectares, so far the farmers have taken up cultivation on 82,998 hectares, which comes to 75.09% coverage of the area under cultivation. Cotton crop is being cultivated on 53,282 hectares against the normal area of 55,937 hectares, which is 95.25%. Last kharif, cotton was cultivated only on 49,140 hectares.
Paddy cultivation
With no inflows into the irrigation projects and poor rainfall, paddy cultivation is likely to come down drastically during this kharif. Against the normal area of cultivation of paddy on 37,096 hectares, paddy was cultivated only on 18,257 hectares which is only 22% of normal area. It is expected that the area of cultivation of cotton is likely to cross even the normal area in the coming few days. “If all goes well it’s okay. But if the cotton price is reduced in the international market and if pests attack the crop, the situation would be horrible to the farming community, officials fear.
Source: The Hindu
For most people, warehouses and transportation represent the boring end of the business spectrum. Countless cartons of everything from tomato ketchup to auto parts aren’t calculated to grab interest. But it’s time to listen up. While the sector’s already been on a growth spree, driven by a burgeoning consumer market, GST’s advent is about to kick the business onto a new growth trajectory with the abolition of inter-State checkpoints and the creation of regional logistics hubs and economies-of-scale. Anshuman Singh is one logistics player eyeing what he sees as rich prospects from India’s big tax revamp. Singh was the CEO who built up Future Supply Chain Solutions, the logistics arm of retail giant Future Group (he also had a stake in the company). Singh figured he wanted to run his own show and launched Stellar Value Chain Solutions 11 months ago. By September, he’ll have 2 million sq ft of warehousing space and he aims to double that by next March to four million. That’s for starters. Singh intends to have 40 million sq ft of warehouses in the next 4-5 years, spread across 28 logistics parks in 21 cities. In addition, he has 400 trucks on the road and aims to make that 40,000. Private-equity investor Warburg Pincus has backed Stellar to the tune of $125 million. “Everything related to consumers — lifestyle, durables, food, beverages, pharmacy and FMCG (fast-moving consumer goods) — that’s where we intend to bring change,” Singh says, noting India hasn’t too many good warehouses. “Ten years ago, we had only godowns. I want to build the supply chain in this country,” he says.
A game-changer
Ironically, when Singh helped launch Future Logistics a decade ago, he did so believing GST was just around the corner. Now it’s finally arrived, it’s undoubtedly a game-changer for the logistics sector which kicks in 13 per cent to GDP despite being underdeveloped and highly fragmented. (Bear in mind China, during its rapid growth phase, saw its logistics sector account for 18-20 per cent of GDP). Pre-GST, “companies were used to locating and operating warehouses keeping in view the Central Sales Tax structure, irrespective of their end-customer base. Now emphasis will be on operational efficiencies”, says Shyam Arumugam, who’s office services associate director at commercial real-estate company Colliers International India. It’s been the e-commerce industry which has been the fuel for the sector’s rocket-propelled growth as it replaced shoppers tramping around stores with doorstep parcel service. Take a squint at Ecom Express, started in 2012 by four employees of courier company DHL. During the last financial year, Ecom Express delivered 50 million parcels, up from 19 million two years earlier. Ecom Express’s proud boast is it can reach every pincode in 12 states and its next goal is to do the same in another 12 states. It reckons 25 per cent of the logistics industry comes from e-commerce. “We’re practically like the post office,” says K Satyanarayana, a company co-founder. “We deliver to furthermost rural areas and create lots of rural employment,” he adds. Ecom Express has 16,000 people on its rolls. The company has also taken a sideways step and opened five warehouses near major metros. Another early-mover company was TVS Logistics Services, founded in 2004 and now a billion-dollar-company. It played the game slightly differently, looking first globally and then locally at India. Today, it has around 300 warehouses and about 10 million sq ft all over India, making it one of the country’s most powerful operators. But that’s only 30 per cent of its total business. “In terms of spread and space, we’re one of the biggest,” says R Shankar who’s TVS Logistics’ India CEO. The company also has major backers like the Caisse de Depot et Placement de Quebec, Canada’s second-largest pension fund, and the Tata Opportunities Fund.
Bright picture
The logistics firms were already in the fast lane but the big time looms with GST, the biggest upheaval, which consultancy KPMG says will provide a chance to “rationalise and re-engineer transportation and logistics networks”. Logistics firms will be able to follow hub-and-spoke models for freight movement as they set up large warehouses. “We expect 80 warehouses to become 20 much bigger ones,” says one executive. Stellar’s Singh says his warehouses will be sited near 17 big metros and four production centres like Ludhiana. Certainly, the new warehouses will be state-of-the-art and many will be super-sized and specialised. Stellar aims to have four warehouse types, including some handling only cold-chain items and others e-commerce products. He expects his warehouses to match highly automated ones abroad. TVS Logistics’ Shankar has a slightly different take on automation given India’s inexpensive, plentiful labour: “We’ll have fit-for-market automation, keeping in mind manpower availability we have here.” Entering the logistics business at a different level are firms like IndoSpace and Bangalore-based real-estate giant the Embassy Group. They’re building logistics parks with warehouses that will be rented by firms like Stellar Value. IndoSpace hit headlines recently when it won $1.2-billion backing from the Canadian Pension Plan Investment Board. IndoSpace is part of Everstone Group, founded by two Goldman Sachs bankers. It already has 28 logistics parks with 30 million sq ft of space. Everstone Real Estate’s managing partner Rajesh Jaggi says the company “plans to expand the portfolio to around 50 million sq ft in the next five-to-seven years”. Similarly, Embassy Industrial Parks has sprawling logistics parks in Sriperumbudur, Chakan near Pune and also Gurgaon. Anshul Singhal, CEO, Embassy Industrial Parks, says the company already has 4 million sq ft of space and plans to hike that to around 20-25 million sq ft in the next five years. The Embassy Group is also getting funding from Warburg. Incidentally, Warburg’s logistic investments include Embassy, Stellar, Ecom Express and Rivigo, a trucking firm. Warburg has invested $75 million in Rivigo. As efficiencies take effect, logistics costs will fall, as is the case with the US where logistics now represents just 8.5 per cent of GDP. When that happens, it will be a clear sign India’s logistics industry has come of age.
Source: Business Line
State-run Shipping Corporation of India Ltd (SCI) is increasingly coming under pressure to take a call on the future of its container shipping business, as continuous losses become a drag on the Mumbai-based firm’s balance sheet. In FY17, India’s biggest ocean carrier by fleet size incurred an operating loss of ₹95.54 crore from running five container ships. The previous year, the loss stood at ₹134.95 crore. In fact, over the past six years, SCI’s container division made an operating profit only once — of ₹15.71 crore in FY15. It reported operating losses of ₹195.21 crore in FY14,₹31.57 crore in FY13 and ₹311.66 crore in FY12. SCI came perilously close to losing its ‘Navratna’ status, a tag that allows state-owned firms greater freedom from government control. It posted three consecutive years of losses between 2011 and 2014 (manly due to poor rates from container and bulk ships), only to turn around in 2015 through some deft cost-cutting measures, including culling 12 new building orders to preserve cash in a difficult market and freeze ship purchases. The freeze has since been lifted. The continuous losses have led experts to question the relevance of SCI running container ships, a segment battered globally by dull trade since the collapse of Lehman Brothers in 2008.
Global crisis
The world’s top container carriers have borne the brunt of the financial crisis, reporting huge losses, forcing the industry to consolidate through mergers, acquisitions and alliances to stay afloat. The consolidation trend gained momentum with the 2016 collapse of South Korea’s Hanjin Shipping, once the world’s seventh biggest container shipping company. SCI, India’s only main line container ship operator, is not part of any of the three global alliances that emerged in the wake of the crisis in the industry. Since the beginning of this fiscal, SCI has sold two old container ships for scrap, which leaves it with only three. There are no plans to order more container ships, a government official said. “You can see the direction the container unit is taking,” he added. With just three container ships, SCI does not have the clout to be a part of any global alliances. It only has a vessel sharing arrangement with Mediterranean Shipping Company SA, the world’s second biggest container shipping firm by capacity, on the Europe sector. “Who will take SCI into alliances? Alliances are between equals; you cannot have unequal partners,” said an executive with a global shipping company. Some experts want SCI to continue running container ships to act as a tempering influence on freight rates to and from India. This section argues that SCI should boost its container fleet to become a bigger player. But others say that the firm should close down the loss-making unit, as it doesn’t serve any worthwhile purpose. “It cannot sustain any longer,” said the government official. “This business is of volumes; we don’t have the volumes. If we want to remain in this segment, either we need to pump in money to buy bigger ships or consolidate in a big way to become a mega player.”
Economies of scale
“Owning big sized container ships is key for consolidation. Otherwise, we cannot reap the benefits of economies of scale — the box rates keep going up,” he added. With the government weighing a potential privatisation of the national carrier, SCI needs to get out of the loss-making business to make it attractive to suitors, he said. Still, some others say that SCI could consider spinning off its container business into a separate joint venture and induct a strategic partner to strengthen the business. But the government official mentioned earlier said it is his considered view that “SCI should get out of the container shipping business”. “There is no reason for SCI to remain in this business. It has, in fact, become counter-productive,” he added.
Source Business Line
Substantial stocks available with the government agencies, traders and farmers, because of a record output last year, has pulled down prices of tur or arhar sharply in the last couple of months. Substantial stocks available with the government agencies, traders and farmers, because of a record output last year, has pulled down prices of tur or arhar sharply in the last couple of months. As a result, there has been growing demand for allowing export of pulses which may boost prices. The ban on pulses exports, with the exception of organic variety, has been in place for around a decade. Traders said allowing pulses exports would somewhat ease the market which has witnessed a glut because of a bumper production in 2016-17. Traders and processors across key arhar producing states of Maharashtra, Gujarat and Madhya Pradesh said that with the kharif sowing for 2017 season already underway, the new crop is expected to arrive in the market by around November and December and the prices are unlikely to rise. Thanks to bumper pulses output in 2016-17 crop year (July-June), the government agencies — farmers cooperative Nafed, Food Corporation of India and Small Farmers’ Agri Consortium — had, for the first time, purchased 1.9 million tonne (MT) of pulses. Out of this, 1.1 MT is arhar and traders are still holding on to around a MT of it. In anticipation of a price rise, even farmers are holding on to around 0.5 MT or arhar. “Thus we have sufficient stocks for meeting the consumers’ demand in the next six months or so,” an official said. According to ongoing kharif sowing data so far, arhar has been sown in an area of 2.93 million hectares, which is about 20% less than the same period last year. However, traders say that last year more farmers opted for arhar as retail prices rose sharply to around `180 per kg a year ago. “Overall sowing of arhar may not decline sharply from last year, thus ensuring sufficient stocks in the market,” Nitin Kalantri, a Latur (Maharashtra) based trader and processor of pulses told FE. The total production of pulses in 2016-17 (based on the third advance estimates) is 22.40 MT, up from 16.35 MT in 2015-16 crop year (July-June). The arhar production rose by more than 80% to 4.6 MT from a year ago period. Even if the arhar output in 2017-18 crop year declines, there will be still sufficient stocks to curb any spike in prices. “The government must step in to stop further fall in prices of arhar,” a trader from Gujarat said. Meanwhile, Nafed which is holding on to around a MT of arhar, has been negotiating with states to clear the stocks so that space would be created for new crop. Karnataka government has agreed to lift one lakh tonne of arhar while army, para-millitary forces have requirement of another lakh tonne.
Source: Financial express
The Donear Group has announced the acquisition of Grasim Bhiwani Textile Limited (GBTL), the poly-viscose suiting fabrics subsidiary of Grasim Industries. The acquisition gives Mumbai based Donear a strategic edge in global textiles business in terms of world-class production capabilities to market products and access to the marquee customers globally. GBTL is the country’s largest manufacturer of PV and PW suiting, selling its products under the ‘Grasim’ and ‘Graviera’ brands in India and over 25 other countries. The biggest strengths of GBTL are its quality-conscious trade partners and global customers, who have been associated with it for a long time. GBTL caters to international fashion houses in the US and the UK, supplying fabric to them for making garments. These garments are available in some of the largest retail chain stores. The Donear Group aims to build further on GBTL’s existing strengths. “The GBTL acquisition is driven by our desire to expand our business both pan India as well as in global markets, and progress towards our strategic goal to become the recognised leader in products and services we offer and increase our market share. This GBTL acquisition will utilise strengths of both partners in terms of infrastructure, manpower and product portfolio. Apart from the world-class production capabilities, the acquisition also gives Donear an access to strong nation-wide retail network, wholesalers and multi-brand outlets through which we will expand our reach,” said Rahul Rajendra Agarwal, director, Donear Group. The textile-focused Donear Group has been scouting for a larger addressable market with additional product categories. The terms of the transaction are not announced yet, and will be disclosed at the appropriate forums through wider communication to all stakeholders. The acquisition has been funded by the promoters of Donear, and there is no plan to bring in any strategic investor – Indian or foreign – on board as of now. However, there are plans to bring in strategic stakeholders in due course of time. S Krishnamoorthy, managing director of GBTL, appointed by Donear Group said, “Existing market conditions offer abundant opportunities for companies with robust infrastructure and in-house manufacturing capacities, different types of product categories, good customer base, speed to market and absolute focus on textiles as their core business. In India, huge opportunity exists for fabric in over-the-counter (OTC), readymade garments (RMG) and exports segments. Taking on the vision of ‘Make in India’, both Donear and GBTL will maintain their individual identities and will stay committed to offer best products and services to their valued customers as one team.” Talking about the management of the two units post acquisition, Agarwal said, “The GBTL plant will be run by existing unit management with additional benefits of expert advice from Donear promoters. We assure our internal and external customers that there will be no change in the work culture and they will continue to experience the same services at all stages. Over time, we will leverage synergies to create a stronger entity with formidable presence in Indian fashion textiles industry.” Post-acquisition, in the medium term, both entities will continue to focus on their respective brands like Grasim Suiting and Graviera Suiting (GBTL) and Donear and Royal Classico Suiting (Donear) in India as separate teams. The management will continue its efforts to strengthen and utilise their combined product basket to serve to its customers. Donear will continue its focus on the OTC segment while strengthening its network pan-India and will expand its product portfolio in domestic and international market.
Source : Fibre2Fashion
Around 198 exhibitors and 7,457 visitors attended India’s leading home fashion trade fair duo Heimtextil India and Ambiente India, held during June 20-22, 2017 in New Delhi. The shows marked the start of the pre-festive retail season in India. One-on-one buyer-seller meetings marked the shows with many exhibitors confirming to have received orders. Ajay Arora, managing director, D’decor shared: “Increased customer walk-ins and over 130 new inquries – for D’decor, this edition has been better than expected. Our association with Heimtextil in Frankfurt stands through ages. This is where it all began for us and we continue to support it as we truly believe in the business effectiveness of the platform. For home textile players, this is where you have to be if you are in the trade.” R Surenthar Kumar, deputy general manager-sales and marketing, Shri Laxmi Cotsyn said: “This show not only caters to the domestic market but also the international market. We have received great response from international buyers from Europe, as well as countries such as Kenya, South Africa and Japan. The enquiries and the communication between us and the buyers have been very clear, which is important for us.” Ambiente India exhibitor, Ahmad Arsalan, director, Ahmad Gift Exports who was also impressed with the internationality of the visitors shared: “This has been our first time at Ambiente India and we are overwhelmed with the kind of visitor response we have received. We have got a lot of enquiries from different industries such as hotels, designers as well as international buyers from Thailand, Germany among others. We would like to have this exhibition happen twice a year!” One-on-one buyer-seller meetings set the tone of business networking at Heimtextil India and Ambiente India 2017 right from day one. Delegations from the hospitality, retail and large-scale buying segments were present at the fair over the three days and many exhibitors confirmed to have received orders through the pre-arranged buyer-seller meet format. As part of the match-making programme, Dinesh Keshwani, purchase manager at Krishna Décor said: “As a platform Heimtextil India and Ambiente India 2017 proved to be beneficial to me for having meetings and discussing my requirements directly with manufacturers. We will be placing orders for the season with two of the exhibitors I met KC Fabrics and Styler. I also visited the ‘exploration zone’ and the experience was quite different, nothing of which I have ever come across. I am definitely looking forward to the next year edition.” Buyers, mainly from the hospitality and retail segments were satisfied that some of their immediate requirements got catered to through the direct interactions with exhibitors. Dipti Pandey, deputy merchandiser-home stop, Shoppers Stop who shared: “We managed to meet new vendors which we were trying to search and couldn’t get connected and we finally found them here. It is a great platform for networking and building contacts. Overall it was a good experience and we look forward to visit the fair next year.” Not limited to product sourcing, Heimtextil India and Ambiente India also hosted several features inspiring new design visions. CushionKari captured the story of the fabrics and emboideries of India. A rare combination of fabrics comprising khadi, brocade, morr, mixed embroideries; together with the perfect blend of sustainable textiles such as yarn, knit waste, fabric waste shredded as well as eco-friendly materials like banana fibre fabric, aloe vera fabric were used in the making of this CushionKari, attracting industry professionals. Sharing her thoughts on the the conceptualisation and making of this record-brekaing installation, Limca record holder Kanika Bawa said: “CushionKari was conceptualised taking inspiration from the rich wealth of Indian mythology, heritage and finesse in craft as well as Indian stories passed on from the Vedic period woven into fabrics. Handcrafted using natural and renewable materials, it is completely eco-friendly in nature. We came across many hurdles in the process of assembling the Cushion Kari due to its massive size and uniqueness in design, however we finally managed to tailor it to perfection and achieved the impossible of creating a magnificent art piece which weighing approximately one tonne.” Anshul Malhotra from Mandi and Himanshu Dogra also from Himachal were declared as the face to represent India at the Ambiente fair in Frankfurt in January 2018. Winner of the home decor category Dogra said: “I have already learned and gained so much from this platform, but there is still a long way to go. The unique part about ILA as a platform is its innovative format of getting textile and product designers together to explore new ideas and brainstorming possibilities for combining different styles of designs to launch one collaborate masterpiece. For a designer, Ambiente India is a fantastic platform where one gets a chance to interact with industry stalwarts and get their perspective on design. I am looking forward to my participation at the Ambiente show in Germany which will be a big game changer for introducing my brand Play Clan to the global audiences.” As consumer goods and textile traders raced against time to align themselves with the new GST regime, an exclusive seminar was organised during the fair to address concerns in the industry with the presence of notable tax guru and experts. “While the GST implementation is expected to positively impact the Indian economy in the coming years, Indian textile industry in particular is poised to grow from the long-term benefits that the new legislation offers. The government projects two per cent growth in GDP by 2020,” shared CA Bimal Jain addressing delegates at the GST seminar.
Source: Fibre2fashion
The Functional Textiles and Clothing conference will focus on innovation in textiles and fashion. The biannual event will be held on February 9, 2018 in New Delhi. The three day conference is a platform to have in-depth exchanges on the recent scientific developments, innovations, challenges and opportunities in functional and smart textiles and clothing. The international conference will be hosted by the textile department of Indian Institute of Technology, Delhi, in association with World University of Design, Sonepat and PSG Tech, Coimbatore. An International Scientific Committee comprising of scientists from over 18 countries will oversee the content of the conference. The event will host competitions on textile and fashion product innovation. Students from across the world will participate in the contest with their innovative textile products having application in medical, sports, social or any other field. Innovative fashion products/clothing incorporating an innovative technology will be showcased at the conference. Any working prototype, developed by student(s) as part of a class project will be displayed in the competition. Papers will be presented at the conference in different areas of functional textiles and clothing. The presentations will focus on various areas including protective textiles and clothing, medical textiles and clothing, athletic, extreme sports and military applications, smart, functional and interactive textiles, workwear, surface functionalisation and coating, textile and clothing machinery, sustainable production and recycling among others.
Source: Fibre2Fashion
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.91 per barrel (bbl) on 24.07.2017. This was lower than the price of US$ 48.10 per bbl on previous publishing day of 21.07.2017. In rupee terms, the price of Indian Basket decreased to Rs. 3023.11 per bbl on 24.07.2017 as compared to Rs. 3093.83 per bbl on 21.07.2017. Rupee closed weaker at Rs. 64.45 per US$ on 24.07.2017 as compared to Rs. 64.32 per US$ on 21.07.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 24, 2017 Previous trading day i.e. 21.07.2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
46.91 (48.10) |
|
(Rs/bbl) |
3023.11 (3093.83) |
|
|
Exchange Rate |
(Rs/$) |
64.45 (64.32) |
Source: PIB
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1228.82 |
USD/Ton |
0% |
7/25/2017 |
|
VSF |
2346.59 |
USD/Ton |
0% |
7/25/2017 |
|
ASF |
2191.14 |
USD/Ton |
0% |
7/25/2017 |
|
Polyester POY |
1251.02 |
USD/Ton |
0% |
7/25/2017 |
|
Nylon FDY |
3035.03 |
USD/Ton |
1.49% |
7/25/2017 |
|
40D Spandex |
4959.68 |
USD/Ton |
0% |
7/25/2017 |
|
Polyester DTY |
2368.80 |
USD/Ton |
0% |
7/25/2017 |
|
Nylon POY |
1591.54 |
USD/Ton |
0% |
7/25/2017 |
|
Acrylic Top 3D |
3138.66 |
USD/Ton |
0% |
7/25/2017 |
|
Polyester FDY |
5685.12 |
USD/Ton |
0% |
7/25/2017 |
|
Nylon DTY |
1458.29 |
USD/Ton |
0% |
7/25/2017 |
|
Viscose Long Filament |
2768.54 |
USD/Ton |
0% |
7/25/2017 |
|
30S Spun Rayon Yarn |
2975.81 |
USD/Ton |
0% |
7/25/2017 |
|
32S Polyester Yarn |
1832.86 |
USD/Ton |
-0.16% |
7/25/2017 |
|
45S T/C Yarn |
2738.93 |
USD/Ton |
0% |
7/25/2017 |
|
40S Rayon Yarn |
3123.86 |
USD/Ton |
0% |
7/25/2017 |
|
T/R Yarn 65/35 32S |
2324.39 |
USD/Ton |
0% |
7/25/2017 |
|
45S Polyester Yarn |
1954.26 |
USD/Ton |
0% |
7/25/2017 |
|
T/C Yarn 65/35 32S |
2294.78 |
USD/Ton |
0% |
7/25/2017 |
|
10S Denim Fabric |
1.38 |
USD/Meter |
0% |
7/25/2017 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
7/25/2017 |
|
40S Combed Poplin |
1.19 |
USD/Meter |
0% |
7/25/2017 |
|
30S Rayon Fabric |
0.67 |
USD/Meter |
0% |
7/25/2017 |
|
45S T/C Fabric |
0.69 |
USD/Meter |
0% |
7/25/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14805 USD dtd. 25/7/2017). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
LAHORE - All Pakistan Textile Mills Association (APTMA) Punjab Chairman Syed Ali Ahsan has expressed concerns over the low pressure gas supply to the Punjab textile mills, particularly those situated in Lahore, Faisalabad and Multan. He said the textile workers would have no option but to take to the streets in case the government failed to restore gas supply to mills immediately. Already, he said, 35 percent of the production capacity has been closed down due to the high cost of doing business, particularly the high energy price and unnecessary burdening of gas price by 40 to 50 percent for the industry. He said that the government was making false claims regarding resumption of energy supply to the industry. He also claimed that a big number of textile mills have been closed down because of the low pressure gas supply. He said the province has already become a graveyard of textile industry and a steep fall in exports and closing down of production capacity was a clear manifestation of the same. Majority of the industry was incurring huge losses out of exorbitant cost of doing business. The textile workers were up in arms, demanding an immediate resumption of operations at mills, he added. He appealed to the Minister for Petroleum and Natural Resources to address the situation and direct the Sui Northern Gas Pipelines Limited (SNGPL) authorities to restore full pressure of gas supply to the textile mills without any further delay.
Source: The Nation
Deshbandhu Textile Mills, a member of Deshbandhu Group, a leading corporate house in Bangladesh, will set up a garment factory in Uttara Export Processing Zone (EPZ) in Nilphamari, part of Rangpur division in Northern Bangladesh. Deshbandhu has signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) for setting up the factory. As per the agreement, Deshbandhu will invest $53.77 million or Tk 435 crore to set up the factory in Uttara EPZ, managed by BEPZA. The factory will have capacity to produce 27.6 million pieces of denim and woven trousers per annum. It will employ more than 3,700 persons, according to a BEPZA statement. The agreement was signed by Sarwar Jahan Talukder, an adviser to Deshbandhu Textile Mills, and Zillur Rahman, member of the BEPZA, in presence of Deshandhu Group chairman Golam Mostafa at the BEPZA office in Dhaka. Deshbandhu Textile Mills has a 100% export-oriented unit at Kumajpur, Nalka in Sirajganj, about 150 km from Dhaka.
Source: Fibre2Fashion
"Our goal," says Craig Brown, National Cotton Council, "is to convince key people who ultimately send signals on what type of fabric they want in consumer apparel that U.S. cotton is responsibility produced and strives for continuous improvement." “We’ve got to stay focused and use some of our resources to have a more credible sustainability program for U.S. cotton," says Craig Brown, National Cotton Council. While the cotton industry is busy formulating policy positions for the 2018 farm bill, other issues of importance are getting close attention, says Craig Brown, vice president for producer affairs for the National Cotton Council. Chief among them, he said at the joint annual meeting of the Mississippi Boll Weevil Management Corporation and the Mississippi Farm Bureau Federation Cotton Policy Committee, is cotton’s sustainability. “We’re very concerned about cotton’s message to its brands and retailers on whether U.S. cotton is considered sustainable. There are many definitions of sustainability, but basically our goal is to convince these key people — who ultimately send signals to the cutters, sewers, weavers, spinners, on what type of fabric they want in consumer apparel — that U.S. cotton is responsibility produced and strives for continuous improvement. That’s our definition of sustainability. “We have a program called Cotton Leads, which has had a degree of success. But we recognize that more needs to be done in this area, and that we need to beef up our program. There are other programs that are competing for the sustainability designation, and we need to be more involved.”
A MORE CREDIBLE SUSTAINABILITY PROGRAM
A sustainability task force is working to develop a concept or pathway to be presented at the August National Cotton Council meeting, Brown says. ”It will need producer participation and acceptance, and the role producers play will be very critical. “We’ve got to stay focused and use some of our resources to have a more credible sustainability program for U.S. cotton. There are really good minds in cooperating organizations, with some really good ideas on how to accomplish this.” They include, he says, the Cotton Board, Cotton Council International, Cotton Incorporated, National Cotton Council, and the National Resources Conservation Service, which “has been really cooperative, with some really good programs.”
EPA EVALUATION OF NEONICOTINOIDS
Efforts continue, Brown says, to demonstrate to the Environmental Protection Agency that neonicotinoids are being used responsibly by cotton producers, and that they are not harmful to pollinators when used in accordance with labels. "We recognize that more needs to be done in the area of cotton sustainability, and that we need to beef up our program," says Craig Brown, National Cotton Council. "There are other programs that are competing for the sustainability designation, and we need to be more involved.” Dr. Don Parker, integrated pest management director on the National Cotton Council’s technical staff, is working closely with regulatory agencies on pesticide regulations and labels, he says. Recently an Environmental Protection Agency team that’s evaluating neonicotinoids and pollinator protection efforts met in Memphis with cotton producers, beekeepers, NCC staff, Extension/research specialists, and other industry leaders to discuss how growers can work on a voluntary basis with beekeepers, using a program like the one developed in Mississippi, which has been used as a model for other states. “Everyone did a good job of presenting solid scientific data on the value of neonics to the cotton industry, and how producers can work in concert with beekeepers,” Brown says. “As a result of this meeting, we believe that the EPA has a much better appreciation for the value and usefulness of neonicotinoids, how important they are to agriculture, and the careful stewardship that farmers are using with these important materials. We’re encouraged that this meeting will have positive results for our industry.”
CONCERNS ABOUT AUXIN TRAITS
While there are “some concerns” about issues related to the auxin traits, 2,4-D and dicamba, Brown says, “We don’t get involved in state issues unless we asked. But we do have some concerns about how state labels and federal labels differ, and the impact that has on the viability of federal registration and on stewardship of these materials. “Many don’t realize that 2,4-D and dicamba traits only have a two-year registration, as opposed to the normal five years. They’re being scrutinized very closely, and claims and potential problems related to off-label incidents are really being noticed. We’re also concerned about the viability of some of these chemicals and traits as they relate to weed resistance problems.”
KENNETH HOOD’S LEADERHIP IN BOLL WEEVIL PROGRAM
Commenting on the Mississippi Boll Weevil Management Corporation’s honoring Perthshire, Miss., producer Kenneth Hood’s 25-year leadership role in the boll weevil eradication program, Brown noted that the program has resulted in elimination of the pest across the cotton belt, except for a small area in south Texas and across the Rio Grande River in Mexico. A boll weevil-free growing environment has saved millions of dollars for cotton growers in Mississippi and across the cotton belt as a result of a years-long program to eradicate the pest that has plagued farmers for decades. “If we follow eradication program all the way from its beginning, with trial runs in North Carolina, then moving across the cotton belt, running out of federal funds, EPA lawsuits, environmental impact statements, Supreme Court cases — the program has had every kind of obstacle thrown in front of it. There were some tough decisions that had to be made, some difficult meetings to get through, but thanks to Kenneth and other dedicated leaders, all were overcome. “Now, I think complete eradication for the entire cotton belt is within our grasp, as soon as the boll weevil is eliminated in the lower Rio Grande Valley and across the river in Tamaulipas, Mexico. This year will be the first with a full-season program in Tamaulipas, under the supervision of the Texas Boll Weevil Eradication Foundation, and progress is being made. “There’s not another federal/private cost-share program that I know of that has been as effective as the boll weevil program, and everyone who has been connected with it is due appreciation. We appreciate Kenneth Hood’s leadership role in this program over the past 25 years.”
Source: Delta Farm Press
Denim North America, a division of DNA Textile Group, at BPD Expo held last month in NYC, introduced an exciting new product line called FYnesse Denim. FYnesse Denim is the latest innovation in superior performance stretch with exceptional low growth and groundbreaking reduced shrinkage. FYnesse Denim incorporates FYnesse yarn, developed and produced by Fiber & Yarn Products, a division of Poole Co. FYnesse is a registered trademark of Fiber & Yarn Products, a division of Poole Co. and it is the latest and most advanced innovation in air-covering technology, taking engineered polyester and introducing spandex at the point of maximum dynamic bulk. This new technology cuts shrinkage virtually in half compared to traditional stretch denims with similar elasticity. The result is greater fabric utilization and increased garment to garment sizing consistency. Best of all, its unique attributes combine consistent shape retention with an amazing soft and smooth hand. The result is a superior performance stretch yarn with the unique capability to retain exceptional power, resilience, and bulk all while concealing spandex deep into the yarn. FYnesse eliminates sagging and bagging while also keeping the consumer cooler with faster drying and moisture wicking technology inherent in the process. This is the second collaboration between DNA and Poole Company with DNA as the exclusive producer of FYnesse Denim. FYnesse will be shown this week in Salt Lake City at the Outdoor Retailer Show July 26-29, Poole Co./Fiber & Yarn Products Stand 41037.
Source: Yarns and Fibers
